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UP committed to becoming favourite investment destination globally: Yogi

The Uttar Pradesh government is committed to promoting the state as a favourite investment destination across the globe, Chief Minister Yogi Adityanath said on Friday

Uttar Pradesh | Yogi Adityanath | Investment

Press Trust of India  |  Lucknow 

Yogi Adityanath
Uttar Pradesh CM Yogi Adityanath

The government is committed to promoting the state as a favourite destination across the globe, Chief Minister said on Friday.

"Under able guidance of Prime Minister Narendra Modiji, UP is committed to become a favourite destination across the globe. The Ease of Doing Business ranking and single window clearance system are clear indicators of our investor friendly policies," the UP chief minister said in a tweet.

He shared a tweet of Mahindra Group Chairman Anand Mahindra in which the latter said, "The first few drops, which turn into a trickle, then a strong flow and finally a flood. Let's make sure we do nothing to prevent this 'good' flood of It's a huge opportunity. I hope @investindia can catalyse this."

Mahindra's tweet came on a report about German shoe brand Von Wellx shifting its production to Agra from China.

Due to the investment-friendly initiatives in the state, UP has gained the second position in the ease of doing business leaving behind Maharashtra, Gujarat, Telangana and Rajasthan.

The German shoe brand is sold in over 80 countries and has over 100 million customers worldwide.

According to an official spokesman, the collaboration will provide over 10,000 direct and indirect jobs and will manufacture over 50 lakh pairs of shoes every year.

He said Von Wellx will invest about Rs 300 crore in three projects in The brand will set up its factory near Jewar, while the manufacturing unit will be set up in Kosi-Kotwan, Mathura.

Von Wellx shifted its two shoe-making units in Agra on November 3. Earlier, the company announced that it would shift its entire production from China to India.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, November 06 2020. 15:47 IST